Received validated deposit receipt from the bank for $7,931.96 for deposit made December 14th. What is...
Received validated deposit receipt from the bank for $7,931.96 for deposit made December 14th. What is the journal entry for this transaction? is there any adjusting entry needed in the future?
Homework Answers
Solution:
| Journal Entries | |||
| Date | Particulars | Debit | Credit |
| 14-Dec | Bank Dr | $7,931.96 | |
| To Cash | $7,931.96 | ||
| (To record deposit in bank) | |||
No adjusting entry needed for this transaction in future.
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Received validated deposit receipt from the bank for $7,931.96
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